WTI trades with mild gains near $68.20 in Wednesday’s early Asian session. Discouraging Chinese economic data and a surprise climb in crude inventories drag the WTI lower. US crude stockpiles rose 499K barrels last week, noted API. … [Continue reading]
Gold price nears $2,700 as rate cut expectations fuel rally
Gold prices surge toward $2,700, supported by strong market anticipation of a Fed rate cut this December. US small business optimism rises, yet traders await crucial US CPI and PPI data later this week. Speculation about China's central bank Gold … [Continue reading]
GBP/USD Price Forecast: Retreats below 1.2750 amid strong US Dollar
Cable slides 0.17%, unable to sustain gains against a strengthening US Dollar Index, now at 106.36. GBP/USD's failure to surpass the 200-day SMA at 1.2820 signals potential for further pullback. Downward pressure increases, with possible support … [Continue reading]
China: CEWC to elaborate on ‘extraordinary’ stimulus – Standard Chartered
Upcoming CEWC likely to set a pro-growth tone and lay out stimulus plan, echoing the Politburo. Shift to an ‘appropriately loose’ monetary policy stance increases the chance of positive surprises. That said, diminishing policy room and financial … [Continue reading]
Australian Dollar remains subdued following RBA rate decision
The Australian Dollar holds losses as RBA Governor Bullock discussed the risks of rising inflation have eased. The RBA decided to hold the Official Cash Rate steady at 4.35% in its final policy meeting in December. The US Dollar continues to gain … [Continue reading]
Japanese Yen touches over one-week low against USD; lacks follow-through selling
The Japanese Yen slides to over one-week trough against its American counterpart on Tuesday. Doubts over BoJ’s ability to hike rates further turn out to be a key factor undermining the JPY. Bets for a less dovish Fed acts as a tailwind for the … [Continue reading]
RBA expected to keep interest rate steady as high inflation, tight labor market outweigh weak growth
The Reserve Bank of Australia is expected to hold the interest rate at 4.35% in December. Australian central bank Governor Michele Bullock’s comments will be closely scrutinized to gauge when could the RBA trim its benchmark rate. The volatility … [Continue reading]
AUD/USD Price Forecast: All the attention is on the RBA
AUD/USD bounced sharply and revisited the 0.6470 zone. The US Dollar kept a vacillating tone at the beginning of the week. The RBA is expected to keep its OCR unchanged on Tuesday. The US Dollar (USD) traded in an irresolute fashion on Monday, … [Continue reading]
EUR/USD turns sideways ahead of ECB policy meeting, US inflation data
EUR/USD juggles near 1.0580 as investors await US CPI data for November and the ECB policy meeting. Investors expect the ECB to cut interest rates by 25 bps for the third time in a row. Fed Goolsbee forecasts the central bank to reach the … [Continue reading]
AUD/USD Price Forecast: Bullish reversal move looks likely
AUD/USD jumps to near 0.6420 with investors focusing on the RBA monetary policy announcement on Tuesday. The RBA is expected to leave interest rates steady at 4.35%. Investors expect the Fed to cut its key borrowing rates next week by 25 bps to … [Continue reading]